I'm having the exact same problem with being unable to get past the logo screen. Waiting for close to a minute (at about the minute mark it goes to the trailer video) does not do anything. Seems very odd that this is the only game where I have this issue. My newer games run absolutely fine without any problems. For those wondering, I have an X-Box that was purchased at around the launch date.
Just wondering...but why do they even have a logo screen where you need to press a button to get past? Atleast in KOTOR1 it just went by for a few seconds then to the main menu. Actually every game I can recall just does that...